Portugal Ventures gives green light to investment in Mapidea
The company has developed a location analytics tool that allows any manager to use maps to take business decisions.
Portugal Ventures has invested in Mapidea, which thus becomes part of the public venture capital firm's Digital portfolio. The initial investment is in the amount of 250 thousand Euros.
Mapidea designs geographic information software and has created a tool that allows any user to view business related information on maps. Combining internal information with statistics and public data, the software performs spatial analyses based on the data entered. For example, on a single map, a large distribution chain can view its network of stores, and that of its competitors, the demographic profile of potential customers and decide which would be the best locations to open new stores.
The tool is already being used by companies such as Vodafone, Domino’s Pizza Portugal and Tabaqueira, an affiliate of Philip Morris International. The Portuguese Institute of Blood and Transplantation also uses Mapidea to know which areas of the country make more or less blood donations and the annual evolution by location.
Incubated at Start Up Lisbon, Mapidea was founded in May 2014 by Miguel Marques and Eduardo Ramos, who developed a career in GIS (Geographic Information Systems) consulting at Novabase.
“The investment made by Portugal Ventures is key to achieving our objective: to generalise access to Location Analytics tools to all organisations in order to create great business value and competitiveness. This investment allows us to leverage our growth strategy: continually evolve the features of our product and strengthen the marketing and sales departments, to create an international network of business partners and accelerate customer attraction. We inserted ourselves in the business market of geographic software as a disruptive and much more accessible alternative for the traditional players in this sector”, says Miguel Marques, CEO, professor and expert in geographic information systems and geomarketing.
Celso Guedes de Carvalho, CEO of Portugal Ventures, stresses that “Mapidea has democratised access to geographic information systems and has made a complex and costly tool, which takes up time and resources in many companies, simple”. “It already has customers and is led by an experienced team who seek to challenge the major international players in this market”, he says.
“Mapidea uses a highly innovative technology, creating geographical analysis solutions that allow the user to combine location with business data, optimising the entire decision-making process. Using geographical analysis, users can support the different business activities in a
completely revolutionary manner. Its enormous potential, coupled with its value proposition, positions Mapidea as one of today’s most promising start-ups in the ecosystem”, says Miguel Fontes, Executive Director of Start Up Lisbon.
About Portugal Ventures
Portugal Ventures is a company in the Public Business Sector responsible for public venture capital investment, whose mission since 2012 has been to address shortcomings in the market and to foster the entrepreneurial ecosystem in Portugal. It manages venture capital funds for the acquisition, for a limited period, of equity instruments and those of borrowed capital in companies with high growth potential. An annual investment of 23 million Euros is estimated for 2017-2019, focusing on the Seed stage and the sharing of deal flow with its community of co-investors.